If you are referring to Microsoft Office, you can purchase Microsoft Office 365 for this Chromebook at the Google Play Store. You can use Google Docs for free through the Google Server with this Chromebook. Google Docs is completely compatible with Microsoft Office programs. Google Docs is a free service for Chromebook users.

No, there is no discrete graphics card within this configuration. Here is a link to the minimum/recommended requirements for Oculus VR: https://xoticpc.com/blogs/news/requirements-needed-for-computers-to-support-vr

That really depends on the requirements and compatibility of the software and hardware. We recommend you check with the hardware manufacturer as well as the software publisher's web site that the hardware requires, for their compatibility with Windows 10 Home 64-bit operating system and the minimum/recommended hardware requirements (Is a Graphics card required, the processor speed and the minimum required system RAM and the minimum available hard drive space) to run their program, then compare those requirements to this system's configuration.

Here is a link to the Google automatic update policy: https://support.google.com/chrome/a/answer/6220366?hl=en